Sowell Financial Services LLC Buys 3,182 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sowell Financial Services LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,620 shares of the electric vehicle producer's stock after purchasing an additional 3,182 shares during the period. Sowell Financial Services LLC's holdings in Tesla were worth $8,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla in the fourth quarter worth about $56,600,000. Focus Financial Network Inc. lifted its stake in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. grew its stake in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after buying an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. acquired a new stake in shares of Tesla during the 4th quarter valued at $8,158,000. Finally, Vontobel Holding Ltd. raised its position in Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock valued at $130,158,000 after purchasing an additional 60,342 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSLA. Glj Research reiterated a "sell" rating and issued a $19.05 price objective (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Truist Financial set a $280.00 price target on shares of Tesla in a report on Tuesday, April 22nd. Royal Bank Of Canada decreased their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, The Goldman Sachs Group lowered their price target on shares of Tesla from $295.00 to $285.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $293.67.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now directly owns 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $5.70 during trading on Thursday, reaching $322.05. 94,677,402 shares of the stock traded hands, compared to its average volume of 100,787,054. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The stock has a market capitalization of $1.04 trillion, a P/E ratio of 176.95, a price-to-earnings-growth ratio of 11.88 and a beta of 2.47. Tesla, Inc. has a 52-week low of $179.66 and a 52-week high of $488.54. The company has a 50-day moving average of $303.42 and a 200-day moving average of $332.59.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the business earned $0.45 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.